Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of Canada lowered the target for the overnight rate by 25 basis points in July. Pivot: 1.3887 Analysis: While the price is above 1.3600, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3887 Take Profit 1: 1.3900 Take Profit 2: 1.4000 Alternative scenario: If level 1.3600 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3600...
Source: PaxForex Premium Analytics Portal, Technical Insight AUD/USD remains on the defensive around 0.6500, eyes on US PMI data. AUD/USD,D1 Pivot: 0.6421 Analysis: Provided that the currency pair is below 0.6600, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6421 Take Profit 1: 0.6300 Take Profit 2: 0.6200 Alternative scenario: In case level 0.6600 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0...
Source: PaxForex Premium Analytics Portal, Technical Insight GBP depreciates due to increased risk-off mood and BoE rate cut. GBP/CHF,D1 Pivot: 1.1093 Analysis: While the price is below 1.1200, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1093 Take Profit 1: 1.1000 Take Profit 2: 1.0900 Alternative scenario: If the level of 1.1200 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1200 Take profit 1: 1....
Source: PaxForex Premium Analytics Portal, Technical Insight The commodity-linked CAD holds mild gains due to a slight upside in crude oil prices as Canada is the biggest crude exporter to the United States. NZD/CAD,D1 Pivot: 0.8135 Analysis: As long as the price is above 0.8260 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8246 Take Profit 1: 0.8200 Take Profit 2: 0.8100 Alternative scenario: If the level of 0.8260 is broken-down, follow the recommendations below:...
Source: PaxForex Premium Analytics Portal, Technical Insight GBP was nearly unchanged for the day as traders opt to wait on the sidelines ahead of the Bank of England (BoE) policy update. Pivot: 1.7738 Analysis: While the price is above 1.7600, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7738 Take Profit 1: 1.7900 Take Profit 2: 1.8100 Alternative scenario: If level 1.7600 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short...
